If Cactus, Inc. has annual sales of $83,000, average accounts payable of $30,000, and average accounts receivable of $25,000, Cactus's receivables turnover and average collection period are closest to: Receivables turnover Average collection period A. 2.1 times 174 days B. 3.3 times 110 days C. 4.0 times 91 days

If Cactus, Inc. has annual sales of $83,000, average accounts payable of $30,000, and average accounts receivable of $25,000, Cactus's receivables turnover and average collection period are closest to: Receivables turnover Average collection period A. 2.1 times 174 days B. 3.3 times 110 days C. 4.0 times 91 days

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EA: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning...

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